The Auction of Assets at Golf Resort Salinas de Antigua: A New Opportunity for Hotel Chains
The unfolding auction of assets from the Golf Resort Salinas de Antigua in Fuerteventura is causing quite a stir in the tourism and hospitality sectors. The resort, developed by the real estate promoter Ramiterra, is currently undergoing liquidation, a process that has received the green light from the Commercial Court No. 2 in Las Palmas de Gran Canaria. This development, coupled with the valuable nature of the properties up for bid, has drawn significant attention from major hotel chains looking to expand their footprint in Fuerteventura.
The Auction Process
Managed by the company Trademat, the auction includes an array of assets belonging to the Galician developer Ramiterra. Notably, the items on the auction block comprise the operation of the golf course, along with the desalination plant that supplies water to the resort. Bidders will also have the chance to acquire various equipment, vehicles, tools, and stock from the golf shop, in addition to a single apartment and a total of 68 urban plots designated for tourist use, along with five residential plots. Each of these assets will be sold separately, and several of the parcels are already drawing keen interest from hoteliers and investors.
Prime Real Estate
Among the standout features of the auction are two highly coveted plots—known as P16A and P16B—offered as part of lot A2. With sizes of 30,194 m² and 5,100 m², respectively, these parcels are valued at an impressive 6 million euros each. The auction, which runs from November 7 to November 26, features an initial bidding price of 7.65 million euros and includes adjoining properties categorized as BIC (Cultural Property of Interest) protection areas.
Market sources quoted by Economía Digital label these plots as the “most valuable in Fuerteventura” due to their extraordinary potential for tourism. Their frontline coastal location paired with proximity to the island’s largest golf course creates an ideal setting for the proposed development of a four- or five-star hotel with a capacity for 421 beds. Areas like Caleta de Fuste, where development is already underway, host renowned hotel chains such as Eurostars, Sheraton, Elba, and Smy, making these parcels particularly desirable for investors.
Ramiterra’s Financial Struggles
It’s important to note that while the auction is currently in progress, Ramiterra has been embroiled in a creditor competition since 2012, a consequence of the profound repercussions of the 2008 real estate crisis. The company had previously faced challenges in its attempts to develop the resort, which includes the luxury golf course and various tourist accommodations.
These ambitions were thwarted in 2001 by an initial tourist moratorium imposed by the Canary Islands government. Ramiterra sought compensation of 127 million euros from the Canary government; however, the company’s claims were dismissed by the Superior Court of Justice of the Canary Islands in 2008 and subsequently by the Supreme Court in 2011.
The Attractiveness of Fuerteventura
Fuerteventura remains a captivating destination for tourists, and these developments reflect broader trends in the Canary Islands. The increasing demand for premium accommodations in the region, particularly those that blend luxury with leisure activities like golf, bodes well for potential investors. As the auction progresses, it becomes clear that the landscape of tourism in Fuerteventura is ripe for transformation, presenting opportunities for innovation and possibly revitalizing the local economy.
The unfolding auction and the prospective sale of Ramiterra’s assets could signal a new chapter for Fuerteventura’s hospitality industry, inviting fresh investments and enhancements in tourism services. For the bidders, the stakes are high, not only for immediate gains but for shaping the future of one of Spain’s most beloved holiday hotspots.
